Over January and February, growth in China’s internet business revenue slowed, profit fell and research spending contracted slightly. The segments diverged: information services slowed, while platforms offering lifestyle services and online sales kept growing at a steady, faster pace.
Companies above the designated size recorded 222.3 billion RMB in business revenue, up 5.1% year on year; total profit of 13.5 billion RMB, down 7.4%; and 11.3 billion RMB of R&D spending, down 2.8%.
By segment
Information services grew 1.8%. Lifestyle services grew 8.4%. Online sales grew 6.7%. Internet security services grew 35.2%, by far the fastest of the four.
By region
The eastern region recorded 203.9 billion RMB, up 5.7%. The western region 9.41 billion RMB, up 3.6%. The central region 8.17 billion RMB, down 7.4%, against full-year growth of 3% in 2021. The northeast recorded 780 million RMB, up 21.6%.
Apps and developers
At the end of February, 2.35 million apps were being monitored in the domestic market, a net increase of 30,000 during the month. Games accounted for 691,000 of them, or 29.5%. Third-party app stores had distributed 20,163 billion downloads in total, of which games took 308.9 billion; daily tools, social messaging and audio-video followed at 265.3 billion, 244.3 billion and 241.4 billion.
The domestic market counted 1.004 million mobile app developers, of which 288,000 were companies and 716,000 were teams or individuals.
Republished for information. The original text has not been independently verified and does not necessarily reflect our views.
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